Latest COVID-19 Headlines
All the headlines from our COVID-19 Topic Page, ordered by recency.
European Insurers’ Coronavirus BI Claims Likely to Be Limited: Moody’s, ABI
Mar 20 2020 // Insurers in the UK, France and Germany are likely to face only moderate business interruption (BI) claims as a result of the coronavirus outbreak because pandemic-related claims are excluded from most business interruption...
Swiss Re, Zurich Insurance in Talks with Swiss Regulator About Coronavirus Impact
Mar 20 2020 // Switzerland’s top insurance companies are in talks with the financial regulator about the impact of the coronavirus outbreak on their capital buffers and their business, according to people familiar with the...
Pressure Builds on Insurers to Be Part of Coronavirus Business Solution
Mar 20 2020 // While legislators in Washington and states try to fashion financial relief for businesses interrupted by the public health actions related to coronavirus, outside pressure is mounting on private property/casualty...
Coronavirus Strikes Post-Brexit Trade Talks with Top Negotiators in Isolation
Mar 20 2020 // The coronavirus has struck at the heart of the post-Brexit trade talks between Britain and the European Union, with both sides’ top negotiators now in isolation. David Frost, the UK’s chief negotiator, is...
Insurers Reject House Members’ Request to Cover Uninsured COVID Business Losses
Mar 20 2020 // A bipartisan group of U.S. House members has asked insurers to retroactively recognize financial losses relating to COVID-19 under commercial business interruption coverage for policyholders. Eighteen House members made...
NY Regs Ask Insurers for Details of Business Interruption Policies in Wake of COVID-19
Mar 20 2020 // The New York State Department of Financial Services (DFS) has instructed insurers to submit details of business interruption policies that have been provided to insureds, as well as the coverage each policy offers...
Southeast Insurance Regulators Issue Industry Guidance for Coronavirus Outbreak
Mar 20 2020 // Insurance departments across the Southeast are notifying industry representatives of updated procedures and expectations in response to the coronavirus outbreak, while also acknowledging the potential for a serious impact...
Life Insurers Go Slow on New Policies to Limit Coronavirus Risk
Mar 19 2020 // U.S. life insurers are trying to curb their own risks to coronavirus by imposing waiting periods for applicants who have traveled to regions with widespread outbreaks, industry experts said. Life insurers are worried about...
Restaurants’ Coronavirus Relief Request Includes Government-Backed Insurance
Mar 19 2020 // The nation’s restaurants stand to lose at least $275 billion and shed as many as 7 million jobs over the next three months due to the coronavirus, the industry told lawmakers yesterday in appealing for help. The...
Texas Stamping Office Still Processing Policies, Fees Amid Pandemic Precautions
Mar 19 2020 // Its employees are now working remotely but the Surplus Lines Stamping Office of Texas (SLTX) reports that all duties and responsibilities, including policy processing and fee collections, continue to be met. SLTX said it...
UK Regulator Warns Insurers to Have ‘Robust’ Coronavirus Contingency Plans
Mar 19 2020 // The UK Financial Conduct Authority (FCA) reminded insurers on Thursday to have “robust” operational resilience and business continuity plans in place to respond to possible disruptions caused by the coronavirus...
California Calling for 60-Day Premium Grace Period Amid COVID-19 Outbreak
Mar 19 2020 // California Insurance Commissioner Ricardo Lara is asking insurers for a grace period on paying premiums. Lara today issued a notice requesting that all insurance companies provide their policyholders with at least a 60-day...
Proposed N.J. Bill Would Require Insurers to Pay COVID-19 Business Interruption Claims
Mar 19 2020 // A proposed New Jersey bill, which aims to create business interruption insurance coverage for COVID-19 related claims despite virus exclusions in many policies, has drawn concern about the constitutionality of legislation...
Restaurant Suit Tests Business Interruption Insurance for Coronavirus Shutdowns
Mar 19 2020 // A restaurant in the heart of the New Orleans tourism district filed a lawsuit on Monday asking a state judge for a declaratory judgment that its business-interruption policy will cover its damages if it is ordered to close...
Lloyd’s Closes London Underwriting Room in Response to Coronavirus Crisis
Mar 19 2020 // After conducting a successful stress-test last week of its electronic trading system, Lloyd’s has made the decision to close its underwriting room in response to the coronavirus outbreak. As a result, market insurers...
Illinois Casualty to Suspend Billing to Restaurants, Taverns in COVID-19 Response
Mar 18 2020 // Beginning on March 20, Rock Island, Ill.-based Illinois Casualty Co. (ICC), a wholly owned subsidiary of ICC Holdings Inc., will temporarily suspend all insurance premium billing for 30 days. The company said the action is...
Oklahoma Workers’ Comp Commission Extends COVID-19 Related Closures
Mar 18 2020 // The Oklahoma Workers’ Compensation Commission (WCC) and the Court of Existing Claims (CEC) announced on Tuesday that the COVID-19 related office closures in Oklahoma City and Tulsa will continue for the remainder of...
EU Insurers Must Preserve Capital Positions as Coronavirus Crisis Escalates: Watchdog
Mar 18 2020 // Insurance companies should take measures to preserve their capital position and be prudent about dividend and bonus payments as the coronavirus outbreak disrupts households and businesses, the European insurance watchdog...
AIR Worldwide Estimates COVID-19 Global Deaths Could Rise 10K-30K by End of March
Mar 18 2020 // AIR Worldwide, the Boston-based catastrophe risk modeling firm, projected the number of severe cases of COVID-19 could range between 200,000 and 900,000 globally, with deaths ranging from 10,000 to 30,500, from now until...
Olympics Organizers Remain Committed to Holding Games, Despite Coronavirus
Mar 18 2020 // The International Olympic Committee remains committed to holding the Tokyo Olympics this year and is confident steps taken around the world will help contain the novel coronavirus, but the group is now talking in more...
